ID.me Raises $7.5M to Help Teachers, Veterans Get Deals Safely Online

U.S. Army combat veterans Blake Hall and Matthew Thompson, co-founders of ID.me

Courtesy ID.me

For years, Overstock.com Inc. Chief Executive Patrick Byrne wanted to give special deals to U.S. active military personnel and veterans to show patriotic appreciation. The e-commerce company attempted to do so–but the challenge of privately and securely validating military credentials proved cumbersome both to Overstock.com and its customers.

So the company abandoned the initiative, until recently.

A startup called ID.me Inc., based in McLean, Va., has made it possible for Overstock.com and others to validate customers’ group affiliations with a purely online process, Mr. Byrne said.

ID.me CEO Blake Hall says the security startup has raised $7.5 million in new venture funding and $2.5 million in venture debt financing to grow its business, validating shoppers’ group affiliations and identity online.

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